Adani Group Faces Legal Challenges: US Treasury and SEC Settlements Unfold
The US Treasury has settled a $275 million case with Adani Enterprises over alleged sanctions violations. Meanwhile, the SEC settled a lawsuit against chairman Gautam Adani and his nephew, linked to an alleged bribery scheme. The defendants seek dismissal, citing jurisdictional and extraterritorial arguments.
On Monday, the US Department of Treasury announced a $275 million settlement with Adani Enterprises over 32 alleged violations of US sanctions on Iran. Despite previous denials by Adani, reports allege the company imported Iranian oil products into India in 2025, contravening US sanctions, according to Reuters.
Simultaneously, the US Securities and Exchange Commission has reached a settlement in a civil lawsuit against Adani Group Chairman Gautam Adani, pending court approval. Documents indicate Adani and his nephew Sagar Adani agreed to penalties totaling $18 million without admitting guilt, as reported by US media.
The SEC previously accused the Adanis of orchestrating a $250 million bribery scheme from 2020 to 2024 for solar contract gains in India. Legal filings reveal motions to dismiss, arguing insufficient court jurisdiction and extraterritorial claims flaws, as the allegations involve non-US entities outside US legal jurisdiction.
(With inputs from agencies.)
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